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Property profile & analytics
OFF-MARKET
Commercial real estate
389 Commercial St 4 Provincetown, MA 02657-2358
Individually Owned
2-yr Hold
Free & Clear
Property ID
US38-1209849
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Year built
1850
Construction
FRAME
Total area
700 SF
Lot
0.09 ac (3,703 SF)
Zoning code
TCC
APN
PROV M:12-2 P:14 E:004
UPID
US38-1209849
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
East End Books (Bike/Boat/Book/etc) Store
-
Chameleon Clothing Store
-
Blue Gallery Provincetown Art Gallery
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Joanne M Mellert · 2 yrs held
Joanne M Mellert
since 2024
3 recorded transactions
Zoning & alternative use
TCC · Provincetown, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
To provide for dense commercial development in the downtown area consistent with the historic village character and pedestrian environment.
Zone name
Town Center Commercial
General category
COMMERCIAL
Zone area
67.97 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Provincetown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Provincetown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$1,309
Tax year 2024
Assessed value
$251,300
Assessed 2024
Previous assessed
$251,300
+0.0% YoY
Effective rate
0.52%
On assessed value
Assessed improvement
$251,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Status
Off-Market
Year built
1850
Construction
FRAME
Heating
HOT WATER
Buildings
1
Stories
1
Rooms
1
Bathrooms
1
Total area
700 SF
Lot
0.09 ac (3,703 SF)
Zoning code
TCC
APN
PROV M:12-2 P:14 E:004
UPID
US38-1209849
Jurisdiction
PROVINCETOWN
Zoning & alternative use
TCC · Provincetown, MAZoning TCC · permitted uses
TCC · Provincetown, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
To provide for dense commercial development in the downtown area consistent with the historic village character and pedestrian environment.
Zone name
Town Center Commercial
General category
COMMERCIAL
Zone area
67.97 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1850
Construction
FRAME
Heating
HOT WATER
Stories
1
Buildings
1
Rooms
1
Bathrooms
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Joanne M Mellert
Individual
Free & Clear · 2 yrs held
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 21, 2024
—
Joanne M Mellert
Provincetown Town Of
Redemption Deed
related
—
Mar 7, 2022
—
Clyde S Mellert
Provincetown Town Of
Redemption Deed
related
—
Aug 9, 2021
—
Wharfview Condominium
Provincetown Town Of
Redemption Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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